Northern Lights Correlations

GGM Etf

USD 29.88 0.21 0.71%

The current 90-days correlation between Northern Lights and Ocean Park International is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northern Lights moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Lights moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northern Lights Correlation With Market

Poor diversification

The correlation between Northern Lights and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Lights and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Northern Lights. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

To learn how to invest in Northern Etf, please use our How to Invest in Northern Lights guide.

Moving together with Northern Etf

0.85	VTI	Vanguard Total Stock	Pair Corr
0.86	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.86	IVV	iShares Core SP	Pair Corr
0.94	VIG	Vanguard Dividend	Pair Corr
0.86	VV	Vanguard Large Cap	Pair Corr
0.9	RSP	Invesco SP 500	Pair Corr
0.85	IWB	iShares Russell 1000	Pair Corr
0.86	ESGU	iShares ESG Aware	Pair Corr
0.84	DFAC	Dimensional Core Equity	Pair Corr
0.86	SPLG	SPDR Portfolio SP	Pair Corr
0.85	FMAR	FT Cboe Vest	Pair Corr
0.83	WINN	Harbor Long Term	Pair Corr
0.73	HHH	Howard Hughes	Pair Corr
0.71	CAPE	Barclays ETN Shiller	Pair Corr
0.87	UDOW	ProShares UltraPro Dow30	Pair Corr
0.78	ETB	Eaton Vance Tax	Pair Corr
0.7	ABEQ	Absolute Core Strategy	Pair Corr
0.68	JAAA	Janus Detroit Street	Pair Corr
0.62	STCE	Schwab Strategic Trust	Pair Corr
0.88	SPYV	SPDR Portfolio SP	Pair Corr
0.79	JPSE	JPMorgan Diversified	Pair Corr
0.75	IWM	iShares Russell 2000 Aggressive Push	Pair Corr
0.85	LCF	Touchstone ETF Trust	Pair Corr
0.81	SCHG	Schwab Large Cap	Pair Corr
0.78	SPBC	Simplify Equity PLUS	Pair Corr
0.84	SCHD	Schwab Dividend Equity	Pair Corr

Moving against Northern Etf

0.52

JAMF

Jamf Holding

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.29	0.57	-0.02	0.6	0.02	0.68	0.28	-0.56	0.72	META
MSFT	0.29		0.24	0.12	0.2	-0.02	0.02	-0.17	0.11	-0.18	MSFT
UBER	0.57	0.24		-0.02	0.02	0.26	0.05	-0.1	0.04	0.36	UBER
F	-0.02	0.12	-0.02		0.0	-0.37	0.36	0.62	-0.24	0.29	F
T	0.6	0.2	0.02	0.0		-0.48	0.73	0.49	-0.76	0.39	T
A	0.02	-0.02	0.26	-0.37	-0.48		-0.48	-0.65	0.64	-0.01	A
CRM	0.68	0.02	0.05	0.36	0.73	-0.48		0.83	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.1	0.62	0.49	-0.65	0.83		-0.83	0.51	JPM
MRK	-0.56	0.11	0.04	-0.24	-0.76	0.64	-0.92	-0.83		-0.57	MRK
XOM	0.72	-0.18	0.36	0.29	0.39	-0.01	0.68	0.51	-0.57		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.83	CRM
CRM	+ 0.73	T
XOM	+ 0.72	META
CRM	+ 0.68	META
XOM	+ 0.68	CRM
MRK	+ 0.64	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.76	T
JPM	- 0.65	A
XOM	- 0.57	MRK
MRK	- 0.56	META

Northern Lights Competition Risk-Adjusted Indicators

There is a big difference between Northern Etf performing well and Northern Lights ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Northern Lights' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.05	0.00	(0.03)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
T	0.92	0.28	0.14	24.43	0.85	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.29	0.25	0.37	0.90	(1.52)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78

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